Closing summary
The S&P 500 and the Nasdaq have hit new intra-day record highs, with the tech-heavy index rising 1%, after labour market data showed an unexpected rise in the unemployment rate to a two-year high and slowing wage growth, which bolstered expectations that the US Federal Reserve could start cutting interest rates by the middle of the year.
However, over here, the FTSE 100 index has dropped 0.5% and European stock indices are languishing.
In other news, Crispin Odey has been accused of rape in a civil lawsuit in the latest and most serious claim to be made against the prominent City financier.
The allegation came to light on Thursday when the high court in London heard an application to decide whether three women could join two others in a legal action alleging misconduct by the founder of Odey Asset Management.
Odey, who left OAM last year amid allegations that he sexually assaulted or harassed a number of women, has previously denied any misconduct.
the UK luxury clothing retailer Matchesfashion is cutting 273 jobs – more than half its workforce – after its new owner Mike Ashley’s Frasers Group called in administrators.
Matches was acquired by Frasers three months ago for £52m in cash from the private equity firm Apax Partners. Frasers said it was not willing to fund a turnaround after the business had “consistently missed its business plan targets” and made losses.
Specialising in luxury labels, from Gucci to Dr Martens, online and through three London stores, Matches generates most of its revenue internationally, delivering to 150 countries outside the UK. It employs 533 people at its head office and stores.
Here are our other main stories:
Thank you for reading. Have a fab weekend – we’ll be back on Monday. Bye! – JK
Updated
Duvel halts production after cyber attack
A cyber attack has forced the Belgian beer company Duvel to halt production at four breweries in Belgium and a site in Kansas City in Missouri.
The company said the suspected ransomware attack happened on Tuesday night.
Five of its production facilities were shut down initially but one is back up and running, in Puurs-Sint-Amands.
Duvel said it was currently unable to give further details
as the investigation into the cause of the cyber-attack is ongoing.”
The built-in command systems and alarms in the IT-system worked well, so our IT department was immediately informed of the attack.
The servers were immediately shut down, which also shut down production at the four Belgian production sites and the production site in Kansas City.
Beer drinkers need not fret, though. A spokesperson told local media:
We have more than enough beer in stock to cover this production stop.
The company brews the well-known Duvel in Breendonk, along with Vedett and Maredsous beers. Its other sites are in Oudenaarde (Liefmans), Antwerp (De Koninck) and Achouffe (La Chouffe).
In a ransomware attack, hackers threaten to block or leak files unless they are paid.
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